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Sandspring Resources Announces Board Change and Stock Option Grants

DENVER, COLORADO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 24, 2017) - Sandspring Resources Ltd. (TSX VENTURE:SSP)(SSPXF) ("Sandspring" or the "Company") is pleased to announce the appointment of Gordon Keep to the board of directors ("Board") of the Company.

Mr. Keep will replace Mr. Frank Giustra who has resigned from the Board. The Company wishes to thank Mr. Giustra for his continued support of the Company and confirms that he will continue to provide advice to the Board and remains the largest shareholder of Sandspring controlling 12.2% of the issued and outstanding shares.

Pursuant to the Company's stock option plan, the Board of Sandspring announces that the Company has granted to directors, officers, consultants, employees and charitable organizations of the Company options to purchase an aggregate of 5,635,000 common shares of the Company at a price of C$0.53 per share for a period of up to ten years, subject to regulatory approval.

On behalf of the Board of Directors of Sandspring Resources Ltd.

"Richard A. Munson"

Director and Chief Executive Officer

About Sandspring Resources Ltd.

Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a definitive feasibility study for the multi-million ounce Toroparu Project in the Guyana, South America. A prefeasibility study completed in May 2013 (NI 43-101 Technical Report, Prefeasibility Study, Toroparu Gold Project, Upper Puruni River Area, Guyana, dated May 24, 2013 completed by SRK Consulting (U.S.), Inc., available on SEDAR at www.sedar.com) outlined the design of an open-pit mine producing more than 200,000 ounces of gold annually over an initial 16-year mine life. Sandspring and Silver Wheaton have entered into a gold and silver purchase agreement for the Toroparu Project. Additional information is available at www.sandspringresources.com or by email at info@sandspringresources.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.